BREAKING: Court frees Binance executives Gambaryan, Anjarwalla

The Federal High Court sitting in Abuja has discharged Tigran Gambaryan, a 39-year-old American, and fleeing Nadeem Anjarwalla over alleged tax evasion. The duo, both executives of cryptocurrency exchange platform Binance, were dragged to court by Federal Inland Revenue Service (FIRS) over alleged tax evasion. The court made the decision following fresh amended charges filed by the FIRS in view of a notice from Binance about its appointment of a Nigerian representative, Ayodele Omotilewa.  Recall that Gambaryan and fleeing Anjarwalla are facing a four-count charge by the Nigerian government brought before the court, a case now before Emeka Nwite, the trial judge. Even though Binance had no legal representation in court, Gambaryan took to the dock to have the charges read to him. But his counsel, Chukwuka Ikwazuonu, notified the court that his client had not been served with the charge, stating it was rather too hasty to have him take to the dock without knowing what his client is about to be tried for. The prosecutor from the FIRS, Moses Ideho, informed the judge that service of the charge hadn’t been possible due to lack of access to the defendant in custody.  This prompted the Court to order service of the charge on the defendant in open court. And following this, the judge adjourned till 19 April for arraignment of Gambaryan.  In the second case by the anti-graft agency, the EFCC, through its counsel E.E. Iheanacho informed the Court that he had served Gambaryan with the charge. But Mark Mordi, counsel for the defendant, this time around, said Binance, the company which he represents hasn’t been served, therefore arraignment couldn’t go ahead.  Moreso, as it’s a joint charge, Mordi argued that it’s necessary to serve every person individually with the charges before the case can go ahead. He also informed the Court that his client declined service of the charge on behalf of Binance because he wasn’t authorized to do so.  The prosecutor however maintained that the defendant, being a top official of Binance was a fitting representative of the company in this particular instance. But stated that in the alternative however, the Court can enter a not guilty plea for Binance to allow the case go ahead.

Tax Evasion: Absence of Binance official, Gambaryan, stalls arraignment

For the third time, the arraignment of Binance Holding Limited and it’s official, Tigran Gambaryan, on tax evasion charges brought against them by the federal government failed to hold due to the absence of the defendants at the federal high court Abuja. The company, alongside its officials, Tigran Gambaryan (2nd defendant)and Nadeem Anjarwalla (3rd defendant)who fled the country on March 22, 2024, were dragged to court for tax evasion by the Federal Inland Revenue Service (FIRS). FIRS, had in the suit marked: FHC/ABJ/CR/115/2024, preferred on them a 4-count charges of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service. The FIRS also alleged that while it was offering taxable services to subscribers on its trading platform, the company failed to issue invoices to the subscribers for the purposes of determining and payment of its Value Added Taxes. In the last adjourned date, Counsel for the FIRS, Moses Ideh, served the second defendant, Gambaryan with the charges, with the leave of the court, as the case was adjourned for his arraignment. However, in Thursdays proceedings, Gambaryan failed to appear in court The Counsel for the second defendant Chukwuka Ikwuazo (SAN), said he was not in court because the correctional service was yet to bring him. He asked for a stand down to find out what might have happened. Moses Ideh, representing the FIRS, expressed displeasure over the failure of the defendant to show up and opposed a stand down on the matter. He accused the defense counsel of knowing his client was not going to be present in court and not doing enough to make him available. Ikwuazo (SAN), who denied the claims, said the defendant is in the custody of the Correctional service and they are to blame for not providing him. He then asked for an adjournment and promised to ensure that the defendant is present in court on the next adjourned date. The motion for adjournment was not opposed by Ideh or T.J. Krukrubo (SAN), who represented the first defendant. Justice Emeka Nwite therefore adjourned the matter till July 14, for arraignment. It would be recalled that two executives of the company were arrested and detained after they flew into the country as a result of a ban on their website, by the Nigerian government, over allegations of handling illicit flow of cash through their platform. A Federal High Court in Abuja subsequently ordered Binance to provide the Economic and Financial Crimes Commission (EFCC) with comprehensive information on all persons from Nigeria trading on its platform. This led to a spat between Binance and the Nigerian authorities who detained two of Binance’s executives upon arrival into the country. Nadeem Anjarwalla, one of the detained Binance executives escaped to Kenya according to Interpol and was tried in absentia. Documents for his Extradition to Nigeria have been prepared by the Interpol. The Crypto exchange company now faces two separate cases, with that of the EFCC, billed to continue tomorrow.

BREAKING! Court denies Binance executive, Gambaryan bail …see why

A Federal High Court in Abuja on Friday denied the bail application of a crypto currency firm executive, Tigran Gambaryan. Justice Emeka Nwite, while delivering the ruling, held that the bail application is refused as he has carefully gone through the application submitted before him and resolved that the defendant will jump bail if granted. Gambaryan, his company, Binance Holdings Limited, and a fellow top executive currently on the run, Nadeem Anjarwalla, were charged by the Economic and Financial Crimes Commission, with money laundering and terrorism financing .